Credit Services
Piramal Finance Limited (NSE: Piramalfin) Q2 FY27: PAT Up 67% Yoy, Raises ₹3,850 Crore
Piramal Finance Limited (NSE: PIRAMALFIN) reports a 67% YoY PAT increase in Q2 FY27 and raises ₹3,850 crore to strengthen capital base.
Piramal Finance Limited (NSE: PIRAMALFIN), one of India’s leading Non-Banking Financial Companies (NBFCs), reported a Profit After Tax (PAT) of ₹ 545 crore, up 67% year-on-year (yoy), for the second quarter ended September 30, 2026. The company also successfully raised ₹ 3,850 crore to strengthen its capital base and support retail-led growth. This marks a significant milestone in the company’s transformation into a diversified, retail-led financial institution.
Strong Financial Performance
Assets Under Management (AUM) increased 24% yoy to ₹ 1,13,112 crore, driven by a 30% yoy increase in Growth AUM, which excludes the discontinued legacy business. Retail disbursements surged 34% yoy to ₹ 14,646 crore, reflecting sustained customer demand and continued business momentum.
Capital Raise and Expansion
The company completed an equity capital raise of ₹ 3,850 crore, comprising a QIP of ₹ 2,100 crore and a preferential allotment of ₹ 1,750 crore of warrants to the promoter group. This capital raise will strengthen the company’s financial position to support future growth. Additionally, the company’s nationwide footprint expanded to 838 branches across 621 cities in 25 states, while its customer franchise grew 26% yoy to 6.5 million.
Leadership Changes
Today, the company also announced the appointment of Mr. Dinesh Kumar Khara, former Chairman of the State Bank of India (SBI), as an Independent Director for a five-year term. His extensive experience and deep understanding of financial services will be invaluable to the company.
Speaking on the performance, Anand Piramal, Chairman of Piramal Finance Limited, said, ‘Q2 marks another quarter of consistent performance across growth, profitability, and predictability, with our Growth AUM increasing 30% yoy. We are encouraged by the confidence shown in us through our first capital raise as Piramal Finance, including strong participation from domestic and global investors. This quarter also marks five years since the DHFL merger, an important milestone in our transformation into a diversified, retail-led financial institution serving around 6.5 million customers across Bharat. We are grateful for their trust and recognize the responsibility that comes with this scale. As we grow, our focus remains on expanding responsible access to formal credit, combining our physical network with technology and AI to serve customers better. We remain committed to delivering sustained, profitable growth and building a strong and sustainable institution for the long term.’
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Piramal Finance Limited
Piramal Finance Limited belongs to the Financial Services › Credit Services sector. Here’s a quick read on where the business and the stock stand today.
Piramal falls 9.1% over three months and has not found a floor yet. D/E reaches 2.42. High leverage in this environment is a material risk the market cannot ignore. Industry-leading margins of 32.2% reflect exceptional pricing power and operational efficiency. The stock holds at 65% of its 52-week range with RSI at 37. In other words, neither side has a clear edge right now. Revenue grows at 16.9% and the stock moves sideways over three months. Neither side makes a strong case. The next earnings print will likely break this stock out of its current range. Check Fundamentals of Piramal Finance Limited.
BAJFINANCE
Bajaj Finance Limited (bajfinance) Q2 FY27: AUM, PBT Surge, ROE Hits 20.6%
Bajaj Finance Limited (BAJFINANCE) reports Q2 FY27 results with AUM up 26%, PBT up 29%, and ROE at 20.6%.
Bajaj Finance Limited (BAJFINANCE) has reported stellar financial results for Q2 FY27, marking a significant growth across all key metrics. The company’s Assets Under Management (AUM) surged by 26% to ₹ 584,624 crore, while the Profit Before Tax (PBT) grew by 29% to ₹ 8,537 crore. Notably, the Return on Equity (ROE) reached an impressive 20.6% for the quarter.
Robust Financial Performance
The company’s financial performance has been robust, with AUM addition of ₹ 37,680 crore in Q2 FY27. The company booked 13.45 million new loans and added 4.42 million new customers, reflecting a strong customer franchise of 128.85 million as of September 30, 2026.
Operational Efficiencies and Asset Quality
Net interest income grew by 24% to ₹ 13,335 crore, and net total income increased by 23% to ₹ 15,974 crore. The cost of funds improved to 7.31% in Q2 FY27, reflecting better operational efficiencies. The asset quality remained strong with GNPA and NNPA improving to 1.06% and 0.42%, respectively.
Looking Ahead
Bajaj Finance Limited remains committed to building resilience across various dimensions of its business, including maintaining a robust capital position, strengthening talent, technology and AI transformation, cyber resilience, regulatory compliances, robust provisioning coverage, diversified borrowings, and robust liquidity.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Bajaj Finance Limited
Bajaj Finance Limited belongs to the Financial Services › Credit Services sector. Here’s a quick read on where the business and the stock stand today.
Bajaj moves sideways over three months, with neither buyers nor sellers taking control. Industry-leading margins of 43.5% reflect exceptional pricing power and operational efficiency. Revenue grows at 22.6% and profits at 18.2% CAGR. Both numbers are exceptional. The stock holds at 50% of its 52-week range with RSI at 47. In other words, neither side has a clear edge right now. The business grows revenue at 22.6% and profits at 18.2%, with D/E of 0.00. The stock reflects that strength. Moreover, when fundamentals and price action align, the PEG of 1.62 premium is usually justified. Check Fundamentals of Bajaj Finance Limited.
Credit Services
L&t Finance Limited (LTF) Records Highest Ever PAT of Rs. 975 Crore for Q2fy27
L&T Finance Limited (LTF) announced a record consolidated PAT of Rs. 975 crore for Q2FY27, up 33% YoY, with a 28% YoY growth in consolidated book.
L&T Finance Limited (LTF) announced its financial results for the second quarter ended September 30, 2026, marking a record consolidated Profit After Tax (PAT) of Rs. 975 crore for Q2FY27, up 33% year-on-year (YoY). The company also achieved its highest ever consolidated book of Rs. 1,36,635 crore, up 28% YoY. The robust Q2FY27 retail disbursements at Rs. 24,027 crore reflect continued business momentum.
Record Financial Performance
The company’s strong performance is underscored by its highest ever consolidated PAT, demonstrating a resilient business model and disciplined execution. The consolidated book growth of 28% YoY and retail disbursements growth of 27% YoY highlight the company’s focus on profitable, risk-calibrated growth.
Technological Advancements
Accelerating its technology deployment, LTF is evolving into an AI-native lender. The company’s PLANET app reinforced its status as a core digital engine, surpassing 2.7 crore downloads and servicing 94% of total service requests. The app’s dedicated rural interface with multilingual capabilities further strengthened its rural reach.
Future Outlook
As LTF progresses on its Lakshya 2031 journey, the company remains focused on strengthening its granular distribution channels, expanding its branch footprint, and enhancing its digital acquisition capabilities. Investments in artificial intelligence are expected to drive greater operational efficiency and build a more agile, scalable, and resilient organization.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of L&T Finance Limited
L&T Finance Limited belongs to the Financial Services › Credit Services sector. Here’s a quick read on where the business and the stock stand today.
L&T falls 15.5% over three months and has not found a floor yet. D/E reaches 3.60. High leverage in this environment is a material risk the market cannot ignore. Industry-leading margins of 33.1% reflect exceptional pricing power and operational efficiency. Sellers drive 1.5x the volume of buyers. Furthermore, they controlled 17 of recent sessions versus 13 for buyers — a clear distribution signal. The business compounds at 17.7% revenue and 22.5% profit CAGR, with D/E of 3.60. Yet the stock drops 15.5% in three months. The business does not deteriorate — the stock does. That gap is what long-term investors look for. Check Fundamentals of L&T Finance Limited.
Credit Services
Iifl Finance Limited (iifl) Q2fy27: PAT at ₹805 Cr, Up 13% Qoq; AUM Crosses ₹1.24 Lakh Cr
IIFL Finance Limited (NSE: IIFL) announced Q2FY27 results with PAT up 93% YoY at ₹805 Cr, AUM crossing ₹1.24 lakh Cr.
IIFL Finance Limited (NSE: IIFL), a leading retail-focused NBFC, announced its financial results for the quarter ended September 30, 2026, showcasing strong growth and robust profitability. The company reported a Profit After Tax (PAT) of ₹805.0 Cr, marking a 93% year-on-year growth, driven by its secured lending strategy and improved operating efficiency.
Performance Overview
IIFL Finance delivered a robust quarter with consistent growth across its core businesses. Total income rose 23% year-on-year to ₹2,339.6 crore, while pre-provision operating profit increased 31% YoY to ₹1,355.1 crore. Profit before tax rose 93% YoY to ₹1,073.7 crore, supported by operating leverage and lower loan losses and provisions.
Key Highlights
Consolidated Assets Under Management (AUM) grew to ₹1,24,268 Cr, up 8% quarter-on-quarter and 38% year-on-year. The Return on Equity (ROE) stood at 20.1% (annualized for H1FY27), reflecting strong gold and mortgage franchises, lower credit costs, and improved operating efficiency. The company also completed a ₹25 crore tokenised bond transaction, becoming the first Non-PSU NBFC in India to undertake such a transaction.
The company continues to focus on its strategy of ‘Resilient, Capital-Efficient Growth’ anchored on secured lending focus, expansion in underserved MSME and Bharat segments, AI-led operating model, and branch-led distribution with hyperlocal sourcing.
As the company enters the rest of FY27, it remains well-positioned to fund growth while maintaining balance-sheet resilience and capital discipline.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of IIFL Finance Limited
IIFL Finance Limited belongs to the Financial Services › Credit Services sector. Here’s a quick read on where the business and the stock stand today.
IIFL posts a 4.9% three-month gain, but softens in the last few weeks. The PEG reaches 3.62, hard to justify given the growth. The market prices in a turnaround that has not arrived. D/E reaches 3.69. High leverage in this environment is a material risk the market cannot ignore. The stock gives back 1.0% in the last month despite a positive three-month run. As a result, the earlier momentum appears to be fading. Revenue grows at 13.6% CAGR and the PEG stands at 3.62. The growth does not match the price the market asks. Furthermore, flat price action adds no technical catalyst. A lower price or faster revenue growth would improve the odds. Check Fundamentals of IIFL Finance Limited.
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